ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 06968542

VERDERG RENEWABLE ENERGY LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED

31 MARCH 2026

01483 755 399

hamlyns.com

VERDERG RENEWABLE ENERGY LIMITED

REGISTERED NUMBER: 06968542

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
		£		£

Fixed assets
Intangible assets	6		3,974,096		4,126,914
Tangible assets	7		-		40
			3,974,096		4,126,954
Current assets
Debtors: amounts falling due within one year	8	69,666		111,543
Cash at bank and in hand		42,112		70,117
		111,778		181,660
Creditors: amounts falling due within one year	9	(2,156,821)		(1,843,761)
Net current liabilities			(2,045,043)		(1,662,101)
Total assets less current liabilities			1,929,053		2,464,853
Creditors: amounts falling due after more than one year	10		-		(3,445)
Provisions for liabilities
Deferred tax	12	(535,277)		(519,831)
			(535,277)		(519,831)
Net assets			1,393,776		1,941,577

Capital and reserves
Called up share capital	13	2,461	2,461
Share premium account		2,598,000	2,598,000
Profit and loss account		(1,206,685)	(658,884)
		1,393,776	1,941,577

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 October 2026.

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VERDERG RENEWABLE ENERGY LIMITED

REGISTERED NUMBER: 06968542

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2026

___________________________

P Roberts

Director

The notes on pages 3 to 10 form part of these financial statements.

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Verderg Renewable Energy Limited is a private company, limited by shares, registered in England and Wales. The company number and registered office address is 06968542, Sundial House 98 High Street, Horsell, Woking, Surrey, GU21 4SU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 4).

2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors have acknowledged the latest guidance on going concern and financial reporting published by the Financial Reporting Council.

The directors have prepared a business plan covering 2026 to 2032, with revenue forecast from 2027 and an annual profit first forecast in 2030. The directors have also considered the current level of cash held by the company and are confident that this together with further investment from the ultimate controlling party will be sufficient to enable the company to settle its liabilities as they fall due. Assurances have been received from the ultimate controlling party that additional funding will be made available by way of loans or share capital should this be necessary.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3.1

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

3.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

3.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.5

Intangible fixed assets

Intangible fixed assets relate to development costs and patents.

Included in development costs are costs incurred in developing Venturi-Enhanced Turbine Technology (VETT).

The VETT project is deemed feasible and commercially viable by the directors, who review the project annually for evidence of impairment.

Amortisation of this asset will begin once the developed product is complete, and will be amortised over a period of which the entity benefits

Patents are amortised over a useful life of 20 years, representing the standard patent term. The useful life is determined based on the initial application date, with amortisation commencing upon the grant of the patent. In the event that a patent application is rejected, all associated costs are impaired in the relevant reporting period.

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

3.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both reducing balance and straight line methods.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	20%	On reducing balance
				Office equipment	-	25%	On cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

3.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4.	Critical accounting judgements and key sources of estimation uncertainty

In preparing the accounts the company is required to make estimates and assumptions that impact on the reported amounts of revenues, expenses, assets and liabilities of the company. Actual results may differ from these estimates.

Intangible fixed assets relates to the development of Venturi-Enhanced Turbine Technology. An estimate of staff time has been capitalised as part of these costs. The directors have reviewed this carrying value of this balance to see if any impairment is required, the conclusion of which is that none was required

Employees

The average monthly number of employees, including directors, during the year was 6 (2025 - 6).

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

6.	Intangible assets

	Patents	Development expenditure	Total
	£	£	£
Cost
At 1 April 2025	-	4,126,914	4,126,914
Additions	775,552	292,858	1,068,410
Transfer between classes	-	(775,552)	(775,552)
Impairments	(111,964)	(285,863)	(397,827)
At 31 March 2026	663,588	3,358,357	4,021,945
Amortisation
Charge for the year on owned assets	47,849	-	47,849
At 31 March 2026	47,849	-	47,849
Net book value
At 31 March 2026	615,739	3,358,357	3,974,096
At 31 March 2025	-	4,126,914	4,126,914

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

7.	Tangible fixed assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost or valuation
At 1 April 2025	782	8,174	8,956
At 31 March 2026	782	8,174	8,956
Depreciation
At 1 April 2025	742	8,174	8,916
Charge for the year on owned assets	40	-	40
At 31 March 2026	782	8,174	8,956
Net book value
At 31 March 2026	-	-	-
At 31 March 2025	40	-	40

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Debtors

					2026	2025
					£	£


Trade debtors	-	22,352
Other debtors	57,511	77,557
Prepayments and accrued income	12,155	11,634
	69,666	111,543

9.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank loans	3,131	10,335
Trade creditors	48,304	28,744
Amounts owed to group undertakings	17,744	16,467
Other taxation and social security	6,242	7,567
Other creditors	2,066,794	1,766,419
Accruals and deferred income	14,606	14,229
	2,156,821	1,843,761

Within Other Creditors are Directors loans totalling £2,064,881 (see Related Party Note).

10.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Bank loans	-	3,445
	-	3,445

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Amounts falling due within one year
Bank loans	3,131	10,335
	3,131	10,335
Amounts falling due 1-2 years
Bank loans	-	3,445
	-	3,445


	3,131	13,780

12.	Deferred taxation

		2026
		£

	At beginning of year	519,831
	Utilised in year	15,446
	At end of year	535,277

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

	Accelerated capital allowances	(535,277)	(519,831)
		(535,277)	(519,831)

13.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

2,461 (2025 - 2,461) Ordinary shares of £1.00 each	2,461	2,461

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VERDERG RENEWABLE ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

14.	Pension commitments

The entity owed £1,914 in pension commitments as at the end of the year (2025: £1,417).

15.	Related party transactions
	A balance of £2,064,881 (2025: 1,764,992) was owed by the company to the directors..

16.	Provisions available for audits of small entities

In common with many other businesses of our size and nature, we use our auditor to prepare and submit
returns to the tax authorities and assist with the preparation of the financial statements.

17.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2026 was unqualified.

The audit report was signed on 30 October 2026 by Oliver Spevack ACA FCCA (Senior Statutory Auditor) on behalf of Hamlyns Limited.

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